New wallet growth has hit a three-month high and whale participation is increasing, but XRP still needs to reclaim the $1.10 level to signal a convincing recovery.
The token is beginning to show accumulation around $1, though price action has yet to fully reflect the improving fundamentals. XRP ticked higher after a sharp spike in intraday volume, while wallet creation surged and large holders stepped up activity even as retail traders remained cautious. The key question is whether buyers can defend support and push the price back above $1.10.
News Background
• The XRP Ledger added 4,941 new wallets in a single day, marking its strongest daily growth in more than three months.
• CryptoQuant data showed the All CEX Whale vs Retail Spread at 50.9%, with Binance’s figure at 44.6%, indicating stronger whale activity while retail participation stayed muted.
• Spot XRP ETFs recorded $15.34 million in net inflows on June 29, with Bitwise contributing $11.94 million.
• Total ETF inflows for June topped $62 million, bringing cumulative net flows to approximately $1.48 billion.
Price Action Summary
• XRP gained 1.41% to $1.0613 in the 24-hour period ending July 2 at 04:16 UTC.
• The token lagged the broader crypto market by 1.27%, highlighting that the move remains relatively modest.
• A key breakout occurred at 03:27 UTC, when XRP moved above $1.0560 on volume of 5.34 million — a 1,433% surge compared to the prior hourly average.
• Buying momentum continued between 03:27 and 03:53 UTC, with total volume reaching 11.31 million as price touched a session high near $1.0665.
Technical Analysis
• XRP continues to form higher lows above the $1.00 support zone, with $1.0318 and $1.0410 acting as the base for the current recovery structure.
• The move above $1.0560 improved short-term momentum, but a push beyond $1.0665 is needed to confirm follow-through and avoid another range-bound bounce.
• While breakout activity was strong, total 24-hour volume was only 5.95% above the seven-day average, limiting confirmation of a broader trend shift.
• XRP remains below key moving averages, including the 20-day EMA near $1.11, the 50-day around $1.20, the 100-day near $1.31, and the 200-day near $1.52.
• Momentum has improved from oversold levels, but an RSI near 33 and negative Chaikin Money Flow suggest buyers have yet to take full control.
What Traders Should Watch
• The $1.0560–$1.0590 zone is the immediate breakout area bulls need to defend.
• $1.0665 marks the next resistance after capping the latest advance.
• The $1.10–$1.11 range remains the key hurdle, aligning with the 20-day EMA and Bollinger midline.
• A sustained move above $1.10 could open the path toward $1.20, while a drop below $1.04 would bring the $1.00 support level back into focus.
• Until XRP reclaims $1.10, the setup remains a support-building phase backed by improving network activity and whale accumulation, rather than a confirmed trend reversal.
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